Bitcoin Whales Accumulate 71,000 BTC Amidst Price Dip – Details

Quick Summary:

As expected, this massive selling pressure translated into the asset recording a significant price loss as its price slipped below the $54,000 mark.  However, the Bitcoin whales have expressed full confidence in the token’s long-term profitability by moving to acquire 71,000 BTC at these current low prices, providing enough buying pressure to march the selling spree by the German government.  This massive buying act could spur other retail and shark investors to increase their Bitcoin holdings and eventually contribute to a price rebound for the crypto market leader.

Bitcoin Halving Points to Potential Boom, Analyst Reveals Although Bitcoin recent price Bitcoin Spot ETF Maintains Green Patch For Six Days In other news, the BTC Spot ETF recorded a net inflow of $310 million on July 12 marking a sixth consecutive day of net inflows.

In an X post on Saturday, IntoTheBlock reported that Bitcoin whales (i.e.typically wallets that hold over 1,000 BTC) have purchased 71,000 BTC in the past week, as they took advantage of the token’s recent price loss to increase their holdings.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: IntoTheBlock BTCUSDT Btcusd Bitcoin Bitcoin whales

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-14 @ 04:30:29 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 64 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21604660

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